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Navy
Financial Counselor / Educator
1260 Peary Street
Fleet and Family Support Center
Newport, RI 02841-1629
401-841-2283
Contact information for key programs and services at this installation.
Resources are available to help you understand and manage your finances, including one-on-one financial counseling to assist you and your family with financial readiness. Services are designed to focus on money management issues throughout your active-duty lifecycle and into retirement. Financial readiness educational opportunities range from basic planning to long-term investing. Check out the information below to see what’s available at your installation.
Financial assistance is offered for active-duty service members and family members inclusive of individual consultations and financial programs and workshops. Examples of programming include consumer awareness (identification theft and predatory lending), a homebuying workshop, developing your spend plan, saving and investing, car buying, reading your credit report, the Thrift Savings Plan, and the Blended Retirement System.
The Newport Fleet and Family Support Center’s personal financial manager can work with you to prepare a personalized budget and spending plan. Information and assistance are also available in areas such as military pay and allowances, consumer tips, savings, insurance, and credit card management. NAVSTA Newport RI, Fleet and Family Support Center is located on base at 1260 Peary Street. Phone 401-841 -2283 or email ffsc_nwpt@navy.mil. Hours of operation Monday through Friday 7:30 a.m. to 4 p.m. Closed holidays.
Newport is a high-cost area. Many people arriving into this area are not prepared for the cost of living. The cost of apartments and homes can be up to twice the cost in other areas of the country. A security deposit for a home or apartment is usually equal to one month's rent.
Housing: This is the largest factor, with Rhode Island housing costs running about 18.4% higher than the U.S. average. The average rent is around $1,964 per month, and median home purchase prices frequently hover between $450,000 and $470,000
Utilities & Daily Goods: Electric bills and groceries are moderately higher. Expect to pay about 16.6% more for groceries and roughly $149.78 on average for monthly electricity requirements
Auto Insurance is mandatory in Rhode Island. You must carry liability at the minimum and your insurance company must be licensed to do business in the state of Rhode Island. Check with your current insurance company to make sure they are licensed. If not, you will have to switch companies.